Shares of Pall (PLL) climbed about 8% Thursday as investors continued to cheer the company's better-than-expected earnings and sales despite ongoing challenges in Europe.
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The Port Washington, N.Y.-based maker of liquid filters and purifiers said late Wednesday that its fourth-quarter profit fell by 11% to $86.2 million on restructuring charges.
However, excluding those special items, the company, which serves a wide range of customers including pharmaceutical companies and municipal water suppliers, said it earned 99 cents, ahead of the 77 cents predicted by analysts in a Thomson Reuters poll.
Pall posted sales of $783.7 million, trumping the Street’s view of $718.8 million.
The company, which has been impacted by the slowdown in Europe and continues to anticipate challenges within European industrial and semiconductor markets, forecast earnings for the full year of $3.05 to $3.25, bracketing the consensus.